The National Association of Commercial Finance Brokers (NACFB) has announced its survey results for 2012/13, reporting huge growth amongst its 93-strong lender membership with overall lending to businesses increasing by over 16 per cent.

The biggest increase came within the buy-to-let industry, with a 128 per cent increase in BTL lending in 2012/13, bringing the annual total to nearly £2.5 billion. New Types of Business Finance, which now includes peer-to-peer lending, and Vehicle Finance grew by 80.4 per cent and 77.8 per cent respectively.
 

Following a visit to No.10 Downing Street, Chief Executive of the NACFB, Adam Tyler, said: “We have continued to see the SME community struggling to be aware of the funding that is available to them and the impact of our raised profile in the UK SME market is now beginning to have an effect.

“I expected to see an increase in written business overall for the fourth year running, but it shows something never seen before, written business by our Asset Finance brokers, who have had a difficult 12 months, exceed that of Commercial Mortgages. In addition the increase in other forms of commercial finance, including peer-to-peer, increased lending is evident to see and takes on more prominence that ever.

“Around 90 per cent of small businesses bank with the four main high street banks; when it comes to borrowing SMEs with our guidance are now reaching out to a wider variety of lenders. We launched our Small Business Finance Directory this summer and we received over £25 million of enquiries in the first 6 weeks without a launch. We now have the site developed and it is receiving leads directly from the Small Business community and helping establish the NACFB as the real source of funding for SME UK.”

Last week, Adam Tyler visited 10 Downing Street to help brief the Prime Minister’s delegates on how best to regenerate the SME funding sector.

The CEO was also joined by senior regulators and policy makers including FCA Chairman John Griffith-Jones as well as the Number 10 policy unit, and senior representatives from HM Treasury and the Department for Business, Innovation & Skills.
Adam briefed the government on what he believes is a distinct lack of knowledge of all the funding options available to SMEs, which he feels is one the main factors holding back SME growth and the economy in general.

Adam was able to push the cause of the NACFB’s own Small Business Finance Directory, created to enable small businesses to gain access to commercial finance via an approved independent UK broker.

The news signifies a landmark step for the trade body, proving that it has become a representative voice for the industry, and with the crucial endorsement from authoritative figures.